Northwest Investment Counselors LLC Boosts Holdings in Microchip Technology Incorporated (NASDAQ:MCHP)

by · The Markets Daily

Northwest Investment Counselors LLC boosted its stake in Microchip Technology Incorporated (NASDAQ:MCHP – Free Report) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,300 shares of the semiconductor company’s stock after acquiring an additional 1,657 shares during the period. Northwest Investment Counselors LLC’s holdings in Microchip Technology were worth $3,316,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MCHP. Steph & Co. raised its position in Microchip Technology by 57.4% in the first quarter. Steph & Co. now owns 414 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 151 shares in the last quarter. Pathway Financial Advisers LLC acquired a new position in shares of Microchip Technology during the 1st quarter worth $39,000. Richardson Capital Management LLC purchased a new position in shares of Microchip Technology in the 1st quarter valued at about $45,000. Versant Capital Management Inc lifted its stake in shares of Microchip Technology by 148.8% in the second quarter. Versant Capital Management Inc now owns 530 shares of the semiconductor company’s stock valued at $48,000 after purchasing an additional 317 shares during the period. Finally, Wolff Wiese Magana LLC boosted its holdings in Microchip Technology by 55.2% during the third quarter. Wolff Wiese Magana LLC now owns 613 shares of the semiconductor company’s stock worth $49,000 after buying an additional 218 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Microchip Technology Stock Performance

Shares of NASDAQ:MCHP traded down $2.52 during trading hours on Monday, hitting $74.82. The stock had a trading volume of 2,223,905 shares, compared to its average volume of 5,957,084. Microchip Technology Incorporated has a 1-year low of $68.75 and a 1-year high of $100.57. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 22.29 and a beta of 1.52. The stock’s fifty day simple moving average is $78.29 and its 200 day simple moving average is $86.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.08 and a current ratio of 1.94.

Microchip Technology (NASDAQ:MCHP – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. Microchip Technology had a return on equity of 28.33% and a net margin of 20.80%. The company’s quarterly revenue was down 45.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.56 EPS. Sell-side analysts anticipate that Microchip Technology Incorporated will post 1.73 earnings per share for the current fiscal year.

Microchip Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were issued a $0.454 dividend. This is an increase from Microchip Technology’s previous quarterly dividend of $0.45. This represents a $1.82 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, August 22nd. Microchip Technology’s payout ratio is presently 52.16%.

Analyst Ratings Changes

MCHP has been the subject of several research analyst reports. Susquehanna dropped their price objective on Microchip Technology from $105.00 to $95.00 and set a “positive” rating for the company in a research note on Monday. Morgan Stanley cut shares of Microchip Technology from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $102.00 to $100.00 in a research note on Thursday, July 11th. Mizuho set a $95.00 target price on shares of Microchip Technology in a research report on Friday. StockNews.com raised shares of Microchip Technology from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, B. Riley reduced their target price on Microchip Technology from $110.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $97.89.

View Our Latest Analysis on MCHP

Insider Transactions at Microchip Technology

In other Microchip Technology news, CFO James Eric Bjornholt sold 2,154 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $81.50, for a total transaction of $175,551.00. Following the sale, the chief financial officer now owns 33,257 shares in the company, valued at approximately $2,710,445.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.07% of the company’s stock.

About Microchip Technology

(Free Report)

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications.

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